Belmazad announces the launch of its innovative online platform, the first of its kind in Egypt dedicated exclusively to online real estate auctions, Invest-Gate reports.

This digital platform aims to revolutionize the traditional auction process and sales transactions in general, offering a streamlined, transparent, and accessible method for buying and selling property.

At the core of Belmazad’s mission is addressing the common challenges faced in conventional auctions and everyday real estate transactions. The platform ensures a legally sound and secure transaction environment for both institutional and individual sellers. Initially focusing on institutional assets, Belmazad plans to expand its services to individual sellers in the future.

Mahmoud Farahat, a co-founder of Belmazad.com, emphasizes the platform’s alignment with Egypt’s national digital transformation strategy. “Our platform not only adapts to technological advancements but also enhances the bidding process, ensuring fairness and maximizing returns in record time,” stated Farahat.

The platform boasts a robust customer base locally and internationally, interested in a diverse array of assets including land, residential units, hotels, commercial properties, and more. Belmazad offers a seamless online bidding process where buyers can register, secure their participation through a refundable deposit, and stay informed about the bidding schedule via the online portal, as well as SMS, WhatsApp, and email.

Unlike traditional auctions that are restricted by time and location, the bidding auctions on Belmazad extend over three days, allowing participants to bid anytime from anywhere with an internet connection. The platform and call center promptly notify participants when a bid is made, ensuring fair competition and transparency.

Omar Dewey, another co-founder, highlighted the technological edge of Belmazad.com, stating, “By minimizing human involvement, we not only increase transparency but also safeguard the interests of both buyers and sellers, maintaining legal protections throughout the entire sales transaction process.”

Initially targeting entities such as banks and holding companies looking to auction their assets at the highest value, Belmazad will soon announce a significant partnership with a major institution possessing a substantial asset portfolio.